NIGERIA NEWSPAPERS: TODAY'S THE BUSINESSDAY NEWSPAPER HEADLINES [4TH APRIL, 2018]


Below are the headlines found on The Businessday Online Newspaper for today, Wednesday, 4th April, 2018.


Wed, 04 Apr 2018
Nigeria’s  Federal  Government through  the  Cen-tral  Bank  of  Nige-ria (CBN) provided money  running  into  billions  of  naira to Dangote Tomato, Erisco Foods,  Vegefresh  Group  and  Savannah Group to enable them process  fresh  tomatoes  into  triple  concentrate,  but  none  of  them is currently doing so.Erisco Foods took N2 billion in  two  tranches;  others  got  be-tween N1 billion and N10 billion in  different  tranches,  industry  sources say.Dangote’s  Tomato  plant  in  Kano  has  been  under  lock  and key  for  more  than  15  months  now due to issues ranging from off-taker  disagreements  to  ir-regular  supply  of  fresh  fruits  by  farmers.  It  is  the  only  com-pany  with  the  capacity  to  pro-cess  fresh  tomatoes  into  triple  concentrates, but its inactivity is perpetuating  the  party  of  triple  concentrate  importation  and  smuggling into Nigeria.Before  the  Federal  Govern-ments  Tomato  Policy  came  on  stream last August,  some players had  convinced  the  government  that  they  had  the  capacity  to  produce  triple  concentrate  lo-cally  to  stop  the  $170  million  concentrate importation market.This  prompted  the  govern-ment to impose a levy of $1,500 on  a  ton  of  triple  concentrate  imported from China, USA and other parts of the world, includ-ing a 50 percent tariff, to protect the industry.But  one  year  down  the  line,  those in the tomato value chain are all importing triple concen-trate because it is not produced locally  and  the  government  is  unwilling  to  implement  the  policy due to this reason.Government is also reluctant to  remove  the  25  percent 

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Wed, 04 Apr 2018
BusinessDay  has  learnt  that  the  Federal  Gov-ernment is considering raising  its  stake  in  the  electricity Distribution Compa-nies (DisCos) to 60 percent from the current 40 percent as part of moves  to  improve  the  fortunes  of  the  DisCos  but  analysts  say  hurdles against it are enormous.A  source  with  knowledge  of  the plans told BusinessDay that to pave the way for the eventual 


Wed, 04 Apr 2018
Lawrence Alaba Afere is the founder and executive officer of Springboard Nigeria. Afere tells JOSEPHINE OKOJIE, in this interview, that Nigeria youths will only find agriculture attractive when there is innovation and mechanisation in the sector. Can you tell us about the Springboard youth cluster initiative' Springboard is a platform of organic farmers. We are... View ArticleThe post 'Nigeria must address seed problem, poor mechanisation to realise potential' appeared first on Bu 

Wed, 04 Apr 2018
Lagos, Delta, River, Akwa- Ibom and Osun State are among other states listed most indebted states of the federation in full year 2017 with a combined domestic debts profile of $1.03 billion. According to Nigeria Bureau of Statistics (NBS), the total foreign and domestic debts in full year 2017 stood at $18.9bn and N3.35trn respectively... View ArticleThe post Lagos, Delta, Rivers most indebted states in Nigeria Report appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
Analysts say growth in the sector will outpace GDP in the fourth quarter of the year with a modest growth in the range of 1.2 percent to 1.5 percent quarter-on-quarter this year. These positive prognoses are coming at a time when the sector is grappling with low demand, over supply in some cases... View ArticleThe post Real estate sector seen outpacing GDP in Q4'18 appeared first on BusinessDay : News you can trust. 

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Wed, 04 Apr 2018
Many people do not like to talk about death let alone plan for it. You may not accept that it should be discussed because of your belief, but when you go to a cemetery on a Friday or Saturday of the week and see with your eyes how ambulances are coming in and going in... View ArticleThe post Bidding farewell to aged parents could be simpler with insurance protection appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
The growth trajectory for the nation's Contributory Pension Scheme (CPS) remained positive despite the challenges facing the economy and businesses, particularly those that have to comply with provisions of the Pension Reform Act 2014. While expectation for improved remittance of (accrued rights) in the public sector continues with efforts by the National Pension Commission (PenCom)... View ArticleThe post Stakeholder confidence continues to rise for Contributory Pension Scheme appeared fir 

Wed, 04 Apr 2018
Moody's Investors Service has reported that re/insurance brokers have a stable 2018 outlook, crediting high product demand, capital requirements, significant variable costs, and good profit margins and cash flows for the sector's health. Brokers in the U.S will benefit in particular, due to steady economic growth, rising P&C re/insurance rates, and a lower 21 percent... View ArticleThe post Moody sees increased market activity for brokers in 2018 appeared first on BusinessDay : New 

Wed, 04 Apr 2018
A precipitous drop in foreign exchange gains has undermined Lasaco Insurance Nigeria Plc's full year profit despite improved underwriting performance. Net profit for December 2017 was N661.87 million, which represents a 30 percent decrease from N944.46 million recorded in December 2016. The decline in profit was due to a 79.34 percent drop in foreign exchange... View ArticleThe post Lasaco Insurance profit slumps on reduced foreign exchange gains appeared first on BusinessDay : News you can 

Wed, 04 Apr 2018
Underwriting firm, Linkage Assurance Plc has secured the approval of the National Insurance Commission (NAICOM) to distribute its motor insurance policies online through a robust technology platform that makes it more accessible to its customers anywhere in Nigeria. However the policy can also be bought by anyone outside Nigeria whose vehicle is within Nigeria territory.... View ArticleThe post Linkage Assurance to launch Online Motor policy appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
A surge in finance income has underpinned Beta Glass Plc's full year profit as the Nigerian glass maker continues to use price adjustments, exposure to the export market to drive growth. The company has been recording double digit growth in revenue amid recession in 2016 while delivering returns to shareholders. For the year ended December... View ArticleThe post Beta Glass' profit spikes on increased finance income appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
India companies have promised increased investment into Nigeria as Deputy High Commissioner of India and Head of Chancery in Nigeria, Shri Subash Chand, has said imports from Nigeria to India increases in 2016 and 2017. Chand stated this at the opening of a three-day exhibition of Indian products, tagged 'Source India' and signing of a... View ArticleThe post India companies look to increase trade to Nigeria appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
Lack of funds has been a major challenge confronting Other Financial Institutions (OFIs) operating in the country. OFI consists of Microfinance Banks (MFBs), Finance Companies (CPs), Primary Mortgage Banks (PMBs), and Development Banks (DBs). To address the issue of paucity of funding, some of the OFIs last week, for the first time, took a pragmatic... View ArticleThe post OFIs look to bond issuance to address funding gap appeared first on BusinessDay : News you can trust. 

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Wed, 04 Apr 2018
Despite the economic headwinds that characterized the business environment in the past year, underwriting firm, Law Union & Rock Insurance Plc at the end of 2017 financial year recorded a Profit Before Tax (PBT) of N1.1 billion. This is a 66.8 percent increase from the 2016 figure of N658.64 million. Its Profit After Tax (PAT)... View ArticleThe post Law Union & Rock Insurance profit up 66% to N1.1b in 2017 appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
The Chartered Institute of Bankers of Nigeria (CIBN) is leveraging technology to elect new office holders that would herald a leadership change in the institute. The Institute has reviewed its current electoral system by leveraging on information technology thus, optimizing the process and giving its targeted audience access to a transparent, accessible and cost effective... View ArticleThe post Leveraging technology for election of new office holders at CIBN appeared first on BusinessDay : News 

Wed, 04 Apr 2018
Banking sector credit to the private sector is expected to grow to N16.7 trillion in 2018, representing a growth of 6.34 percent from N15.7 trillion recorded in 2017 according to FSDH Research. The improvement in the macroeconomic and business environment; improved consumers' confidence; and the drop in the yields on the Nigerian Treasury Bills (NTBs)... View ArticleThe post Banking sector credit to private sector to grow to N16.7trn in 2018 FSDH appeared first on BusinessDay : News you ca 

Wed, 04 Apr 2018
The Nigerian financial markets resumed on Tuesday after the Easter holiday with exchange rates trading stable against other currencies. After trading on Tuesday, at the investors and exporters forex window, naira closed at N360.21k per dollar, the same level it traded on Thursday last week before the holiday to mark the Easter celebration. The Central... View ArticleThe post Financial markets resume with exchange rates unchanged appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
Experts in the Nigerian payment industry are of the opinion that the success of the financial inclusion drive will be guaranteed through the deployment of simple technologies and processes that align with the realities of the target audience who are mainly at the bottom of the pyramid. This was one of the recommendations made by... View ArticleThe post Payment industry experts advocate technology solutions to achieve FI target appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
A turnover of $1.3 billion was recorded on the Investors' & Exporters' FX window for the week ended March 23, 2018, data from the FMDQ OTC Securities Exchange (FMDQ), show. For the week-ended March 23, 2018, trading activity in the Spot FX market between the Deposit Money Bank's and their clients stood at $1,348.12 million... View ArticleThe post Trading turnover on I&E FX window rises 16.90% appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
While the Federal Government considers requests for an extension of Nigeria's tax amnesty programme, the Voluntary Assets and Income Declaration Scheme (VAIDS), it is not going back on its pledge to prosecute all tax evaders who failed to take advantage of the tax amnesty window to regularise their status. The tax amnesty programme launched July... View ArticleThe post VAIDS: FG insists on prosecuting all tax evaders appeared first on BusinessDay : News you can trust. 

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Wed, 04 Apr 2018
Tax reform will not be a catch-all solution for social inequality. But if applied properly it can provide the foundations for dynamic and equitable global growth, according to EY's Tax Insights Taxes aren't just crucial for public spending ' used properly, they can be powerful tools for promoting inclusive global growth. The past few decades... View ArticleThe post Why inclusive growth needs better tax policies appeared first on BusinessDay : News you can trust. 

Wed, 04 Apr 2018
There has been huge uproar against Lagos state's recent move to raise land use charge, from various stakeholders, demanding clarity and accountability. According to a recent report published by PricewaterhouseCoopers (PwC), a multinational tax consulting firm headquartered in London, since the Land Use Charge Law 2018 was passed into law, social media has been agog... View ArticleThe post Lagos land use charge uproar shows need for clarity, accountability appeared first on BusinessDay : New 

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